Bitcoin steadied on Tuesday, as an improvement in risk appetite helped the world’s largest cryptocurrency gain some support at the start of 2026. However, renewed concerns surrounding so-called treasury companies prevented the digital asset from extending its gains.
Strategy Inc. (NASDAQ: MSTR), the world’s largest corporate holder of Bitcoin, disclosed on Monday significantly higher unrealized losses on its digital asset holdings during the fourth quarter, following a decline in the value of its Bitcoin portfolio over the course of 2025.
Broader cryptocurrency prices posted modest gains in line with Bitcoin, but largely lagged advances in other risk-linked assets, particularly technology stocks.
Risk appetite improved after markets brushed aside the initial shock from the US military intervention in Venezuela, which also resulted in the arrest of President Nicolas Maduro. Investors are now awaiting greater clarity on Washington’s plans toward the Latin American country.
Bitcoin rose 1.3% to $93,576.7 by 00:59 ET (05:59 GMT). The world’s largest cryptocurrency was still down more than 6% over the course of 2025.
Michael Saylor’s Strategy reports $17.44 billion unrealized loss in Q4
Michael Saylor’s Strategy reported late Monday massive unrealized losses of $17.44 billion in the fourth quarter of 2025, largely tied to the decline in Bitcoin’s price, which represents the company’s largest holding.
There was no directly comparable figure for the fourth quarter of 2024. Strategy had posted a net loss of $670.8 million in the fourth quarter of 2024.
Last year, the company adopted new accounting standards requiring it to mark its Bitcoin holdings to fair value through earnings, a change that introduced sharp volatility into its quarterly profit and loss figures.
Shares of the Bitcoin treasury firm fell about 50% in 2025, as investor confidence broadly deteriorated in the long-term outlook of the company’s Bitcoin accumulation strategy. Prolonged weakness in Bitcoin prices, alongside Strategy’s exclusion from a major US equity index, further weighed on sentiment toward the stock.
The decline in Strategy’s share price has fueled concerns that the company could be forced to sell part of its Bitcoin holdings to meet future debt and shareholder obligations, a scenario that could generate significant selling pressure on Bitcoin prices.
Cryptocurrency prices today: altcoins rise, XRP outperforms
Broader cryptocurrency prices were mostly positive, tracking Bitcoin’s movements, while XRP outperformed its peers.
XRP jumped 12%, supported by rising capital inflows into spot exchange-traded funds, alongside a decline in the token’s supply on major trading platforms.
The world’s second-largest cryptocurrency, Ether, gained 2% to $3,220.24, while BNB rose 0.6%.
